There seems to be no end to Vijay Mallya's woes. Once India's liquor baron, a foray into aviation landed him in a mountain of debt. At each step, he has let go of assets. With Mallya now defaulting on a £20.4-million loan to UBS, his home in London overlooking Regent's Park might go out of his grasp. Good news seems to be eluding the erstwhile king of good times.